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To: LLCF who wrote (150093)	2/8/2002 12:13:07 AM
From: GraceZ	Read Replies (1) \| Respond to of 436258

This is my understanding as well. This is why I advise people to break up their cash assets like CDs and put them into different banks that are all insured by FDIC. Some elderly investors wind up chasing CD yields and wind up at these fly-by-night banks. People found out about the 100k limit the hard way here in Maryland during the S&L crisis. Back then most of the S&Ls weren't even insured under FDIC. Some people had accounts temporarily holding money for home purchases frozen for months and lost a lot of their money. It was ugly, ugly, ugly.

To: LLCF who wrote (150093)	2/8/2002 12:14:27 AM
From: Ken98	Respond to of 436258

There is an interesting twist though - contents in safety deposit boxes are not covered as "deposits" in the event of bank failure. I remember reading a case several years ago about someone that lost some bonds or something when the bank burned down and then the bank went belly-up. No FDIC coverage, and the person could only sue the bank receiver - and not get anything. Also, if your bank gets taken over by the feds, you might be denied access to your safety deposit box for a period of time (usually just a day or two).